B.R. The other company he founded, Finablr/UAE Exchange Centre, is now looking at a possible sale, with Israel’s Prism Advance Solutions as the suitor. This was “just as the pandemic spread [and] disrupting international travel. Informed sources thought it could be as early as this week itself. All through these months, Shetty had professed no knowledge of how the billions of dollars went missing. BR Shetty’s wish seems to have come true as he has been overwhelmed with problems ever since his fortunes dwindled after becoming one of first Indians to make his fortune in the UAE’s healthcare industry when he set up NMC Health in the 1970s and grew it exponentially. Shares of his flagship company, Abu Dhabi-based NMC Health, has dropped 70% since mid-December, following allegations by an US investment firm that NMC made potential overpayment for assets, inflated cash balances and understated debt. BR Shetty’s lenders have sold shares his firm pledged. You can manage them any time by clicking on the notification icon. BR Shetty News including daily updated Middle East BR Shetty News, Gulf Investment & Financial headlines, Latest Banking News, Top Financial News, Online Banking & UAE Financial Services News Find also International & World Banking & Finance Industry News Law firm Herbert Smith Freehills has launched a review of Shetty’s holdings at his request, a spokesperson for the Indian-born businessman said. UAE-based Indian billionaire BR Shetty's company Finablr Plc is getting ready to sell its business to an Israeli-UAE consortium for $1, capping the collapse of … Shetty) is an Indian pharmacist, entrepreneur and philanthropist, who for over 46 years has committed his career to building healthcare facilities and improving the quality of life for people in the UAE and across the world. Shetty, the Indian billionaire and founder of NMC Healthcare and UAE Exchange, is calling in outside help to restructure all of his liabilities and restructure his investment company. Evolving from a humble healthcare centre in 1975 to a vibrant and eminent conglomerate in the Middle East, BRS Ventures today stands for trust, dynamism, growth and quality. Premanath Shetty, UAE: Dr B.R Shetty is the courageous man and he created his own business empire.Now feeding to thousands of families.That blessings only enough for him. (Wikimedia Commons) How BR Shetty went from billionaire to bust 4 min read. Shetty, founder of NMC Healthcare and UAE Exchange Centre, has again confirmed an “imminent” return to the UAE. * NMC’s losses are likely to amount to billions of dollars. NMC Health founder BR Shetty is considering selling all or some of his Abu Dhabi-based pharmaceutical business Neopharma, which is valued at about $1 … The downfall of Shetty started when doubts emerged about NMC’s debt position and the size of Shetty’s stake in it. Terms of Use Dubai: Dr. B.R. Moneycontrol News November 17, 2020 / 12:50 PM IST BR Shetty left the UAE amid the cases and is living in India. Both on your website and other media. Both NMC and UAE Exchange were listed on London Stock Exchange, in 2012 and 2019, respectively. 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